DraftKings’ Revenue Breakdown (2019-2022)

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This statistic highlights DraftKings’ Revenue Breakdown, split between Gaming software, Online gaming, and Other segments, reported on a quarterly basis from Q2 2019 onwards.
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This statistic highlights DraftKings’ Revenue Breakdown, split between Gaming software, Online gaming, and Other segments, reported on a quarterly basis from Q2 2019 onwards.

DraftKings provide users with daily fantasy sports, sports betting (“Sportsbook”), and online casino (“iGaming”) opportunities.

DraftKings’ Revenue Breakdown

Revenue Breakdown Q3 2020 Q2 2021 Q3 2021 Contribution in Q3 2021
Gaming software $0.00 $27.43 $23.72 11%
Online gaming $99.47 $258.00 $176 83%
Other $4.53 $11.94 $12.83 6%
Total $104 $297 $212 100%

(All figures are in millions, except percentages)

DraftKings’ total revenue grew from $104 million in Q3 2020 to $212 million in Q3 2021, marking a 103.84% increase on a year-on-year basis. However, the total revenue went down from $297 million in Q2 2021 to $212 million in Q3 2021, marking a dip of 28.61%. Online gaming accounts for 83% of the revenue, which is the highest of all the segments. Consolidated revenue from the gaming software and other verticals in which the company is involved, accounts for 17% of the company’s earning.

DraftKings’ total revenue is further bifurcated into the following verticals:

Online Gaming

Online gaming includes DFS, iGaming, and Sportsbook which have certain similar attributes and patterns of recognition. The company allocates a portion of the transaction price to certain customer incentives that create material future customer rights.
DFS or daily fantasy sports is a peer-to-peer product in which users compete against one another for prizes. Revenue from DFS is generated through contest entry fees from users, net of prizes, and customer incentives awarded to users. Both, Sportsbook and iGaming, generate revenue from users’ wagers net of payouts made on users’ winning wagers and incentives awarded to users.

Online gaming revenues increased $76.8 million, or 77.2%, to $176.3 million in the three months ended September 30, 2021, from $99.5 million in the three months ended September 30, 2020. This spike was due to the ongoing legalization of online sports betting and iGaming.

Gaming Software

The company contracts with business clients to give sports and casino betting software solutions. Gaming software income is perceived when control of the solutions is transferred to the customer. The operations of this segment are concentrated mainly in Europe and Asia, with a growing presence in the United States.

Revenue from gaming software decreased $3.71 million, or 13.52%, to $23.72 million in the three months ended September 30, 2021, from $27.43 million in Q2 2021 on a quarter-on-quarter basis. This segment accounted for 11% of the company’s total revenue in Q3 2021.

Other

Other revenues are largely related to media and other online consumer product offerings.

DraftKings’ revenue from the Other segments grew from $4.53 million in Q3 2020 to $12.83 million in Q3 2021, marking a 183% increase on a year-on-year basis. It also witnessed a 7.4% increase compared to $11.94 million in Q2 2021. The Other segment contributed to 6% of the company’s total revenue.

About the Company

DraftKings is an American daily fantasy sports contest and sports betting company, founded in 2012. It is headquartered in Boston, Massachusetts, U.S. Its common stocks are listed on the NASDAQ under the trading symbol ‘DKNG’. As of 2019, DraftKings employs more than 800 employees worldwide.

The company allows users to enter daily and weekly fantasy sport-related contests and win money based on individual player performances in five major American sports (MLB, the NHL, the NFL, the NBA, and the PGA), Premier League and UEFA Champions League soccer, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA) and Tennis. DraftKings’s top competitors include FanDuel, Raging River, Lucra Sports, and Generation Esports.

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